Related Essays

  • Mm4 Book Review

    In chapter six of the book, the author defines a product as both goods and services. For example, a product can be a good such as flat iron and the service o...

  • Four Types Of Consumer Offerings

    The product is tangible offering, such as physical goods purchased, sold or owned. An example of a product is a car, a dress or a computer. A service is an a...

  • The Challenges Of Service Manager And Product Management And Service Management

    Besides, service is different from products in terms of delivery. Service has several characteristics, including intangible, heterogeneous, perishable, and l...

  • Difference Between Goods And Services

    Goods are products that have “…tangible attributes that a consumer’s five senses can perceive” (Hartley & Kerin, 2016). “Services are intangible activitie...

  • Product Quality And Features Of Vw Golf

    Introduction The term ‘Product’ can be defined as something that is offered to a market for use or consumption that meet the demands of the consumer’s need...

  • Specialty Offerings

    Marketers use various terms to describe omnifarious categories of products, also called offerings. In this paper we will look at each of the four types and e...

  • Unsought Products

    Provide an example of each type of consumer products, be sure to use the definitions of each type, and the information from Table 7.1 to support your answer....

  • Brand Branding In Starbucks

    A brand is the product with distinct character, for instance in image or design. It is recognized and well consistent. A brand name is a name of unique prod...

  • 7 Elements Of Services Case Study

    A product refers to anything that is offered to the market in order to satisfy a need or want (Kotler et.al, 2012). Products are divided into two broad categ...

  • Friedman's Invisible Hand Theory

    There are a lot of products in the current market and everyone buys and sells in the market every day. Products can be tangible merchandise or intangible ser...

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

Card Range To Study

through

image

Play button

image

Play button

image

Progress

1/18

Click to flip

Use LEFT and RIGHT arrow keys to navigate between flashcards;

Use UP and DOWN arrow keys to flip the card;

H to show hint;

A reads text to speech;

18 Cards in this Set

  • Front
  • Back
What is a product?
An idea, a physical entity, a service, or any combination of the three.
What are services?
nonphysical products such as a haircut.
What are 4 characteristics of a service?
1. intangible
2. perishable
3. inseperable
4. variable
What are consumer products?
Those purchased by consumers for their own personal use.
What are business products?
Those purchased by a firm or organization for its own use.
What are convenience products?
Items customers do not want to spend alot of time shopping for.
What are shopping products?
Items customers are willing to spend time shopping for.
What are specialty products?
Customers both want to purchase a specific brand and are willing to look to find it.
What are capital products?
Expensive items used in business operations but do not become part of any tyoe of finished product.
What are production products?
They become part of some finished product.
What are optional products?
They are used in a firm's activities but do not become part of any type of finished product.
What is a brand?
How a firm identifies its products to distinguish them from similar products offered by competitors.
What is brand image?
The impression consumers have about the brand.
What is brand equity?
The value that the brand has in the marketplace.
What is a manufacturer/national brand?
Its sponsored by the manufacturer of the product. The manufacturer is responsible for the product's quality and marketing.
What is distributor/private/store brands?
Its sponsored by a distributor such as wholesaler or retailer.
What is co-branding?
Where two brand names are used on a product.
What is a trademark?
A brand or part of a brand that is registered with the U.S. Patent and Trademark Office. Gives the owner the right to use the brand and may even preclude other firms from using similar names or marks.